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Wednesday, June 13, 2012

$$EURUSD Short Term Reversal at Technical Confluence

FXCM Expo videos
Innovative techniques with technical indicators
Trade with the Elliott Wave principle
See the forest for the trees: an analysis of global markets
Afternoon "technicals" (all maps)
Another TA (crosses, TOC, etc.).
"The market (S)" alias "RISK" SNAPSHOT - closes 60 minutes

EURUSD_Short_Term_Reversal_at_Technical_Confluence_body_all.png, EURUSD Short Term Reversal at Technical ConfluencePrepared by Jamie Saettele, CMT
"Gold has been a leader in recent weeks, with in background on 30 May and reached on 6 June." The decline of 6 June is 5 waves and the subsequent rally was executed in resistance and appears to be completed a 3 wave correction near current levels.
SPX 500 (fair value) – 60 minutes Bars

EURUSD_Short_Term_Reversal_at_Technical_Confluence_body_spx.png, EURUSD Short Term Reversal at Technical ConfluencePrepared by Jamie Saettele, CMT
To update yesterday noted that "the resistance for the next few days in the S & P are approximately 133 (SPY), 1323 (e-mini futures) and 1325 (index). The area around the lower 5/18 are supported. "SPY hit 132.99 before the close of yesterday, the index reached 1324.30 before closing yesterday and the e-mini achieved 1320.75 European trade today. We are the resistance, which puts in place for a decline Wednesday.
AUDUSD - bar of 60 minutes

EURUSD_Short_Term_Reversal_at_Technical_Confluence_body_audusd.png, EURUSD Short Term Reversal at Technical ConfluencePrepared by Jamie Saettele, CMT
"I always play the waves through the AUDUSD risk on / off.." I am Rally but less weakness etc and more than force and on. Trade with the greatest trend but decrease size weakness to support and increase the size on the strength of resistance. If the high Sunday night do not have, then I would be not involved in the short side. Focus would move to resistance between 10085 and 10140. »
At the current junction, consider an upward triangle the high 6/7. Even in this scenario, the AUDUSD would trade lower in 9880-9915 to find support.
EURUSD - bar of 60 minutes

EURUSD_Short_Term_Reversal_at_Technical_Confluence_body_eurusd.png, EURUSD Short Term Reversal at Technical ConfluencePrepared by Jamie Saettele, CMT
I launched a short EURUSD this morning to 12540 (according to Twitter @ JamieSaettele). Resistance in the short term also extends in 12590 but pop on retail sales in traffic and 50% decline of 12667 allows was enough to make me short. A loose target for the EURUSD is 12385-12410.


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